Dangote’s current market capitalisation is about $23.7 billion, meaning ICD is taking a stake of about 1.3 per cent.
SCPE said it would obtain two seats on the board of Al Jazeera, Jordan’s only fully integrated poultry producer and distributor.
The acquired portfolio will consist of two multi-family residential properties in Houston and one in Atlanta, GFH said.
The company’s net profit amount for the whole of last year was Dhs3.3 billion.
The initiative marks the first time that Emirates ID cards will be used for ATM transactions in the UAE.
Al Khodari’s new activities will include supplying and installing solar energy equipment and systems, it said in a statement to the Saudi bourse.
The malls unit’s IPO will be divided into two tranches, one for retail investors and one for institutions.
The stake will consist of current outstanding ordinary shares and the conversion of QNB’s convertible preference shares.
GCC and South Asian countries dominated the Islamic Finance Development Indicator list.
The cash raised is expected to be used for general business purposes.
A bourse filing by KIPCO added that its direct and indirect stake in Kuwait’s Burgan Bank currently stands at 57.94 per cent.
The unit, TECOM Investments, is expected to use the proceeds for its growth plans, while some of the cash would also be diverted to its parent company.
Creditors of the company approved a plan to restructure debts worth around $2.7 billion last month.
The issuance would be in local currency and would apparently be separate from an international, U.S. dollar-denominated sovereign bond issue which Oman has said it may conduct.
Prior to joining ADIA, Brian Tipple held the position of chief investment officer at U.S.-based Key Private Bank.
The seasonally adjusted SABB HSBC Saudi Arabia Purchasing Managers Index rose to 60.7 points last month – the highest level since July 2011.
The HSBC UAE Purchasing Managers’ Index climbed to 58.4 points in August from 58.0 in July and the highest since the series began in August 2009.
Waha Capital will use the money from the deal to repay debt and fund new investments, the company said in a statement.
Emaar plans to float at least 15 per cent of its shopping malls and retailing unit on Dubai’s main stock market and will list the shares in October.
The bank, which currently has one branch in the Kingdom, is looking to grow operations across the country.
DIB plans to increase its stake in Bank Panin Syariah to 40 per cent from the current 25 per cent, its CEO said.
Following the transition, ADIB will serve over 700,000 customers across a network of 85 branches, 660 ATMs, internet and mobile platforms.
The change in rules could dent profit growth at banks, especially those that rely heavily on retail activity.
Following a series of investor meetings, ENBD aims to complete a U.S. dollar-denominated bond offering of benchmark size, one of the sources said.
Shares in Emaar, the biggest listed developer in Dubai, surged 6.7 per cent on strong volume and dominated trading in the emirate.
Sharjah has appointed HSBC, Kuwait Finance House, National Bank of Abu Dhabi, Sharjah Islamic Bank and Standard Chartered to arrange the roadshows.
Emaar, the emirate’s largest listed developer, which surged 8.8 per cent to Dhs11.15, its highest close since March 2008.
The mobile operator did not say when it would join the bourse.
Chinnakannan Sivasankaran, the chairman of Chennai-based Siva, filed for bankruptcy in the Seychelles after a British court in June ordered him to pay the money to Batelco’s subsidiary BMIC.
Fahad Abdulla al-Khalifa has previously worked at Qatari institutions including Qatar National Bank and the Qatar central bank.